Kraton offers €290 million eight-year notes, to refinance 10½% notes

By Paul A. Harris

Portland, Ore., May 14 – Kraton Corp. is in the market with €290 million of eight-year senior notes, according to a market source.

A roadshow for the deal, which is being led by J.P. Morgan Securities LLC, is expected to wrap up on Friday.

The notes come with three years of call protection.

The issuing entities will be wholly owned subsidiaries Kraton Polymers LLC and Kraton Polymers Capital Corp.

The Houston-based producer of engineered polymers and styrenic block copolymers plans to use the proceeds, plus an additional $90 million in incremental dollar-denominated term loans under its existing senior secured term loan, to tender for and/or redeem its 10½% senior notes due 2023.

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